Numerical comparing system



20, 1940' R. M. HICKS 2,191,234

NUMERICAL COMPARI NG SYSTEM Filed Jan. 2, 1937 5 Sheets-Sheet l m- IIIIIII-II l Ill IIIIIIII IIIIII FIG. I FIG. 2

INVENTOR RAYMQND M. HICKS Feb. 20, 1940. R; M. HICKS NUMERICAL COMPARING SYSTEM Filed Jan. 2, 1937 5 Sheets-Sheet 2 ME CK mmw Lmmtz MAWET INVENTOR RAYMOND M. HICKS Feb. 20, 1940.

R. HICKS NUMERICAL COMPARING SYSTEM 5 Sheets-Sheet 3 Filed Jan. 2, 1937 FIG. IO

INVENTOR RAYMOND M. HICKS Feb. 20, 1940. R. M. HICKS NUMERICAL COMPARING SYSTEM 5 Sheets-Sheet Filed Jan. 2, 1937 HIGH ll2 I INVENTOR RAYMOND M. HICKS m m m w I E w A ORNY Feb. 20, 1940.

I26 I27 I25 I24 R. M. HICKS NUMERLCAL commune SYSTEM Filed Jan. 2. 1957 FIG. l7

5 Sheets-Sheet 5 HIGH INVENTOR RAYMOND M. HICKS BY I I M64 T OR EY Patented Feb. 20, 1940 UNITED) STATES I 2,191,234 NUMERICAL COMPARING SYSTEM Raymond M, Hicks, Plainfield, N. J.,assignor to lhe Teleregister Corporation, New York, N. Y.;; a corporation of Delaware Application January 2, 1937, Serial No. 118,774

6 Claims. (01.177-311) This invention relates to a numerical comparing system and particularly :to means for comparing a number which may comprisea plurality of digits with another number unknown to theoperator and additional IIIBHJIStO inform the operator of the numerical relation of the numbers so compared.

For instance, in the limit order system of a brokerage officethe various customers have orm ders on file with the broker to sell shares of a stock when it has reacheda predetermined high price or to buy a certain number of shares of a stock when the price thereof has decreased to a predetermined value. It is thepresent practice in. systems of this character for the limit order clerk to observe the prices of stocks as they appear upon the ticker tape and compare these prices mentally with the buy and sell orders which have been assigned to him;

With the present rapid trading-of securities,

like it is the practice to give charge account customers a credit rating and the amount which a customer may charge during a given period 2 is limited by the amount of the rating. The

usual method is to have the clerk when making a sale, telephone the bookkeeper or accountant,

. who investigates the customers ledger sheet and reports back to the clerk whether or not the :0 charge may be made. Similarly in banks and other institutions the teller or cashier may wish to know the relation betweenthe depositors balance and a check or other paper presented for payment.

One of the advantages of the present invention is to provide a system for use in such vcases to enable the clerk or cashier to make such comparison quickly, simply and accurately.

Another object is to provide means for com- In paring a number with another number whose value has been previously determined to ascertain whether the first number is numerically higher; lower or the same as the number having the previously determined value, and a still further to object is to compare a number with two previother.

ously determined numbers having different values to ascertain whether the first number is higher than the higher of the two previously determined numbers, lower than the lower one thereof,intermediate the two or the same as either.

More specifically one of the objects is 'to providea limit order device for use by brokers and others by which the prices of stocks bonds, commodities or the like which fluctuate invalue may be compared with the brokers buy orsell limit order or with a previously established high or low price of the commodity to ascertain whether the limitorder price has been reached r or exceeded, or whether a new highorlow price has been established. e i

Numerous other advantages will be apparent from the detailed description of the invention given hereinafter.

In accordance with one embodiment of my invention, I provide each clerk or'other person desiring to obtain a comparison with a keyboard or similar selectively operable device by means of which a previously determined number may be selected from a plurality of previously determined numbers and compared with a second number, the clerks equipment comprising a signal or other indicating device associated therewith for immediately indicating to the clerk the numerical relation of the numbersto each Associated with the" clerks position is a comparing mechanism responsive to the number set up on the keyboard for comparing the same with a number set up by an operator in the comparing mechanism and for operating-the (35 indicating device in accordance with the result of such comparison. The operator referred to maybe remotely situated with respect to the clerks transmitting equipment, which comprises a rotatable dial or other selecting device for selecting a stock or other item to be set upon the comparing device and a transmitter for transmitting the erence to the accompanying drawings in which:

Fig. lshows a fragmentary View partly in section of one of the comparing devices. r Fig. 2 is .a front view of the device of Fignl.

Fig. 3. shows a fragment of a quotationboard comprising a plurality of groups of the comparing devices of Figs. 1 and 2.

Fig. 4 is a detailed view of the commutator taken along the line 4--4 of Fig. 1.

Fig. 5 is a view partly in section taken along the line 5-5 of Fig. 4.

Fig. 6 shows the circuit connections estab lished when the setting of a High indicator is numerically greater than the setting of the corresponding Market indicator.

Fig. 7 isa view of the contact arrangement taken along the line 7-1 of Fig. 1.

Fig. 8 shows the contact arrangement when the setting of a Low indicator is numerically less than the setting of the. corresponding Market indicator. 7

Fig. 9 is a view of the contact arrangement taken along the line 9-9 of Fig. l.

Fig. 10 is a View partly in section of the circuit I connections taken on the line ||l||l of Fig. 2. Fig. 11 is a view of the High indicatorunit taken along the line of Fig.1.

"conductors l4. Brushes l8 and I9, having Fig. 12 shows a modification of the comparing device of Fig. 1. i i Fig. 13 is a front view of the device shown on Fig. 12. p j Fig. 14 is a fragmentary "view partly in section of" the device taken along the line |4-|4 of Fig. 13. q

Fig. 15 is a fragmentary view of another comparing device. i Figs. 16 and 17 show the circuits and apparatus for a complete system. j

Fig. 18 is a view in perspective of the commutator shown in Figs. 4 and 5. I Referring first to Figs. 1 and 2, I have shown oneof the comparatorunits such as the hundreds unit of the stock W of Fig. 3. This unit comprises three rotatable indicator units, preferably of the type disclosed in the patent to rings 1, 8 and 9, Figs. 1 and 10, insulated therefrom and. from one another. These sliprings are supported by an insulated collar securely held to the shaft by the screw l2.

Asclearlyshown on Fig. 10, the slip ring 7 has connected thereto a conducting strip l3 to which is attached one of the conductors l4. Similarly the slip rings Band 9 are in connection with conducting strips l5 and I6 respectively. each strip having connected thereto one of the attached thereto the wires 29, engage slip rings "1. 8 and 9 respectively and thus complete circuits between the wires 20 and the wires -|4. The wires 2|] extend to terminals 9 which engage the slip connections 2|. The wires H, as shown on Fig. 6, terminate on springs 22, 23 and 24,'which springs are securely clamped to the arm. 25 by the screw 26 and insulated therefrom and from one another by insulating washers 21 and 30.

The drum shaft of the upper in curely against the flat portion 28. of the shaft 3 so that the entire spring assembly is rotated by the shaft 3 as the indicator unit operates.

The spring 24 is provided with a first depression 29., a second depression 3| and a bent out portion, the purpose of which will be apparent as the description proceeds.

Referring again to Fig. l the-shaft 4 has loosely mounted-thereon an insulating collar 32 provided with a pin 33 adapted to engage the arm 1 34 which is attached to the shaft 4. The collar 32 is provided with a stud 35 to which is at.-

tached one end of the spring 36 by means'of the manner indicated on the drawings.

The pin 39 ismade of magnetic material adapted to slide freely through the collar 32 and is normally urged against the collar by the spring 4| so that the shoulder42 rests against the lower surface of the collar 32. Immediately below the pin 4| is a circular electromagnet 43 adapted upon energization to attract the pin 39 and thus prevent it from engaging the spring 24. The electromagnet 43 is connected by the wires 44 to the terminals 45 which engage suitable slip conmost or Low indicator is less than the corresponding intermediate or Market indicator, these springs take the positions shown on Fig. 9 with the pin 39 engaging the depression I68 and the spring 47 is forced away from the spring 48 so that none of thesprings 41, 48 and 49 are in contact with one another. Theqdepression IE8 is formed so that the pin 39 is held in engagement therewith should the setting. of the Low indicator be numerically more than one unit less than the corresponding Market indicator setting.

As the Market indicator advances beyond the first digit position one unit numerically greater than the setting of the Low indicator; the move ment of the collar 46 is arrested by the engagement of the pin 39 with the depression I68 and the pin 33 moves away from the arm 34 as the Market indicator continues its movement. The operation of the circular magnet 43 withdraws the pin'39 during the restoration. cycle of the unit, thereby causing the spring 36 to again position the pin 33 against the arm 34.

When the setting of the market indicator is numerically one or more units greater than the setting of the corresponding High indicator, the

upper pin 39 is in engagement with the depression 3|iand the springs 22, 23 and of the unit are forced into engagement with one another.

There is one comparator unit such as shown on Figs.9l and 2 for each digit and fraction 'of the stock price and a stock price having three digits and a fraction as, for example, the stock W shown on Fig. 3 requires four comparator units,there being one for the hundreds, tens, units and fractions digits respectively. The indi cato'rs of the uppermost row display'the High or selling price of the stock and the indicators of thelbottom row display the Low price or the price at which the stock is to be bought. The intermediate row of indicators display the current or Market quotation of this stock. Each group of comparator units is covered bya mask 5!, Fig. 3, having. aperturestherein through which the indicator settings are visible.

Reference will now be had to Figs. 16 and 1'? which disclose a system for comparingthe market price of a stock or other item with two previously determined values of the stock. The system' comprises a transmitting station T, Fig. 1.6, anda receiving stationR, Fig. 17, connected thereto whereby the prices of a selected stock are displayed upon Market indicators in accordance with: signals transmitted from the apparatus within the transmitting station.

Fig. 16 also shows the selecting and transmitting equipment for controlling the operation of of the prices set up on the High and Low indicators will now be described.

"The operators equipment comprises a manually controlled selector IBO for selecting the indicators of a stock upon which the market price isto be posted. This selector has a movable arm IIlI .settable to any one of a plurality of positions in accordance with the stock to be se- PRES, PH, PT, PU and PF to operate and transmit impulses to the windings of the Market in- .dicators of the selected stock over conductors 2,

3, 4 and 5 of cable A. The key I 42 is connected to conductor 5 of cable A and upon operation causes the circular magnets #3 of the Market indicators to become energized and attract their associated pins 39. A switch SW in series with the selector Ill!) controls the operation of the selected stock relay.

Eachkof the indicator units of Fig. 17 is provided with a commutator having a grounded segment H05 and a segment Ill- 5, Figs. 4:, 5 and 18 in electrical circuit with the continuous "disc I07, but insulated from the segment I05 by the in sulating disc Hi3, so that the brushes Hi8 and I09 are connected together electrically when brush I (I8 is in engagement with segment M6 as the indicator unit moves into the blank position. Whenever the indicator unit is moved from its normal position, the electromagnet IE1 is connected by way of brush M8 to the grounded segment I05 of the commutator.

The clerks equipment comprises a set of se lection keys for the High (sell) and a duplicate set of keys for the Low (.buy) indicators of the various stocks. A common key C releases any of the operated keys of the keyset. The depression of any key of the High group of keys connects groundto a conductor l I: and operates a selecting relay as WH thereby selecting the High indicators of a desired stock for operation. Similarly the depression of any key of the Low group of keys grounds a conductor I l3 and operates the selecting relay as WL for the Low indicators of :a desired stock. Whenever any selection key of the keyset is depressed, the key lock mechanism lid is moved against the tension of spring H5 and releases any other operated key of the keyset. As the key completes its downward movement, the locking mechanism H4 is restored by the spring. IE5 and retains the key in the operated position. Whenever the key locking mechanism l 14 is operated, the insulated portion I20 thereof causes the switch H5 to open itscontacts and remove ground from conductor I to release any of the relays CH, CT, CU or CF which may have been held operated to the grounded switch contacts.

The clerks equipment also includes the keys H, T, U and F and associated relays CH, CT, CU and CF respectively for selecting the digits of the pri e to be set up on the High and Low indicators by the clerk. A telephone dial P closes its contactsv Ill in accordance with the movement of the dial thereby operating the pulsing relay PR. The relay PR applies battery at its armature H8 and contact M9 to the conductor PM, the armature I22, I52, I53, ltd and make contacts of each of the operated relays CH, CT, CU and CF and thence to the selected ones of conductors I24, l25, lzii and I2! to the electromagnets III of the Low indicators of the selected stock to cause these to operate in accordance with the price signals to be transmitted.

The clerk's equipment also includes aswitchthe High and Low indicators from their normal positions and conductor $33 is employed to opcrate the circular magnets I04.

Each stock has two alarm relays individual thereto, which relays are operated whenever the price displayed on the Market indicators has equaled or passed the prices displayed on the High or Low indicators of the stock. Referring to Fig.- 16 the High alarm relay WHA for the stock W is operated whenever the price set up on the Market indicators of the stock W has equaled or passed the price set up on the High indicators. Similarly theLow alarm relay WLA, Fig. 16, is operated. whenever the market price of the stock W equals or passes the price set up on the Low indicators thereof.

The operation of relay WHA causes the bell I32 to operate and thus indicate to the clerk that the market price has equaled or passed the high or sell price. Similarly the operation of the relay WLA operates the bell I33 to indicate that the market price has equaled or passed the price set i up on the Low indicators. The operation of any High alarm relay, as for example relay GMHA for the stock GM, causes the operation of the bell I32, whereas the operation of any Low relay such as operates the bell l33. As

sociated with each stock, as olearly shown on Figs. 3 and 17, are two alarm lamps I34 and I35 which operate whenever the appropriate alarm relay is operated. Lamp I34 when lighted indicates to the clerk, whose attention..may have been attracted by the operation of the bell I32, that the market price of the stock has equaled or passed the price set up on the High indicators thereof. This lamp may be extinguished at will by depressing the button I36 which causes the switch conrm v tacts' I37 to open and remove ground from one side of the lamp after the High indicators have been reset to a price higher than the market price. Ina similar manner, the depression of the push button I 39 opens the switch contacts I39 and .extinguishes the lamp I35. The bells I32 and I33 have distinctive tones so that the operator may readily ascertain by the sound. of the bell whether the price set up on the Market indicators has reached the prices set up on the High or Low indicators.

The operation of the system will be best understood by consideration of a specific example. Assume that the operator desires to post the quotion W102%.; and the clerk wishes to set up on the High indicators for the stock W the quotation 106 /2 and the quotation 99% upon the Low indicators of this stock.

The operator at the transmitting station T first moves the selector I until the arm IOI thereof is in engagement with the appropriate segment I4I to select the stock W. Theoperator then closes the switch SW thereby completing the circuit from battery, switch SW, arm "ll of the seto conductor 0 of cable A, closed contacts I43 and I 44 of relay W, conductors I45 and I46 to the windings ofthe upper and lower magnets I04 in parallel from whence the circuit is continued to battery thereby energizing thesemagnets and withdrawing the pins 39 from engagement with the springs 24 of the High indicator units and the to assume their normal positions.

springs 41 of the Low indicator units during the time that the Market indicators are operating to their normal positions.

Relay PRES transmits l0 impulses from battery through its armature I4! and make contact of relay PRES, conductor 2 of cable A, closed contacts of relay W to the winding of electromagnet III of the hundreds Market indicator from whence the circuit is continued through brush I08 to the grounded segment I of the commutator. The indicator is advanced one step as each impulse is received until the indicator moves into the blank position thereby disengaging the brush I08 from the grounded segment I 05 and engaging the brush with the segment I06 of the commutator. Since segment I06 is un grounded at this time, the indicator remains in the normal position. In a similar manner armatures I48, I49 and I50 of relay PRES complete circuits over conductors 3, 4 and 5 of cable A to the electromagnets III of the tens, units and fractions Market indicators which are restored to normal concurrently with the hundreds indi cator in the manner just described.

' After the restoration dial RES has returned to normal, the key l'42 is released thereby removing ground from conductor 6 of cable A and deenergizing the magnets I04 thus causing the pins 39 The operator now depresses key I03 which grounds conductor I of cable A, operated contacts of relay W, brush I09, commutator segments I 07 and I06, brush I08,,and one end of the winding of the electro- 75 magnet III of each of the Market indicators to normal.

thereby conditioning these indicators for opera tionfrom their normalpositions. I

It will be recalled that the operator is about to transmit the price 102%. While the key I03 maintains ground on thewindings of the selected indicator units, the operator'transmits one pulse from the dial H, thereby momentarily operating relay PH from battery through the contacts'of I the dial H and the winding of relay PH to ground. The operation of relay PH caused its armature I60 to move into engagement with the contact thereof andapply battery to'conductor 2 of cable A, contacts of relay W and thence to one end of the winding of electromagnet vI II of the bum dreds Market indicator unit causing this unit. to be stepped ahead to display the digit 1.

The operator now transmits impulses'from the dial T, 2 impulses from the dial U and 4 impulses from the dial F in a similar manner with the key I03 depressed during transmission ofat least the first of each series of digit impulses, thereby causing the operation of relays PT, PU and PF to transmit the appropriate number of impulses over conductors 3, 4 and 5 of cable A to the tens, units and fractions Market indicators to cause these to take settings 0, 2 and 4 respectively. The operator now opens the switch SW thereby releasing relay W and the transmissio of this quotation is now complete.

The clerk selects the High indicators of the stock W by depressing the key W of the High set of keys. With this key operated, ground is placed on conductor II 2 thereby operating relay WH. The keys H, T, U and F are momentarily depressed thereby operating relays CH, CT, CU and CF respectively. Each of these relays locks by way of its armature ME and make contact, conductor I49, switch contacts I5I, conductor I30, switch contacts I I6 to ground and remain so locked until ground is removed from their windings either by depressing the digit release keyv DR to open the switch contacts I5I or by depressing either another selection key or the The.

10 impulses by means of the dial P which closes I its contacts I I"! repeatedly and operates the pulsing relay PR to transmit l0 impulses to the se-. lected High indicator units in the following man'- ner: Battery, armature I I8, contact H9 of relay PR, conductor IZI, armature I22 andcontact I23 of relay CH, conductor I24, contacts of relay WH, electromagnet III of the hundreds Highindicator unit, brush I08 to grounded segment I05 of the commutator. The hundreds indicator unit is thus restored to normal. i

Referring to Fig. 16, it will be noted that the conductor IZI is extended to armatures I52, I53 and I54 of .relays CT, CU and CF respectively. As these relays are now operated, battery im pulses on conductor .IZI. are transmittedfover conductors I 25, I26 and I 2'5 through contacts of relay WH, windings of thetens, units and fractions High indicator units't'nereby restor ing these units to normal concurrently with the restoration of the High hundreds indicator unit during thetime that the dial P was returning The clerk now momentarily depressesthe push button DR, thereby releasing relays CH, 'CT, CU and CF. I The key H is momentarily operated thereby reoperating relay CH which locks by way of its armature1II48 and makes contact to the grounded conductor I49. The switch I28 is moved into engagement with terminal I29. As the switch I28 left terminal II3I, ground was removed from conductor I33 stock W. The clerk transmits one impulse from the dial P, thereby operating the relay PR to place battery on conductor I2I through the, armature I22 and contact I23 of relay CH and conductor I24, therebyoperating the hundreds High indicatorunit todisplay the digitl. I

Button DR is momentarilyoperated thereby releasing relay CH. Thekey T is now operated,

thereby operating relay CT which locks at its I armature I48 and makes contact to grounded conductor I49. The clerk now transmits impulses from the dial P, thereby causing the I pulsing relay PR to send 10 impulses over the conductor I2I, armature I52. and make contact of relay CT to conductor I25, thereby operating the tens High indicator, unittodisplay the-digit OI. After the High indicator has taken its setting, the button DR is momentarily operated to release the relay CT.- I

In like manner, the .key U is depressed and the dial P operatedto send 6 impulsesto the High units indicator unit after which the button DR is operated and the key F and dial? are I operated in the order, named to. transmit l impulses to the fractions indicator toIIdisplay the digit 4 corresponding to the fraction /2. The

l button DR is operated and the switch I29 is disengaged from contact I29 at the completion of the operations just described. I The setting up of the price 997 by the complished by depressing theIW key of the Low group of keys which causes the operation of relay .WL and restores any other operated selection key of the keyset and effects the release of; a selection relay such as WH. The movement of the switch locking mechanism II4 as the key W of :the Low group was depressed; opened the switch contacts IIG and released any of the relays CH,

CT, CU or CF which mayhave been locked thereto; The restoration and actuation of; the Low indicators is accomplished in a manner similar to the operation of the High indicator units and will not, therefore, be described in detail. It will be noted,however, that inasmuch as the Low price of 99% does not include a hundreds digit, the H key of the clerks transniitting apparatus is not depressed after the switch I28 has been moved ,1 into engagement with contact I29, but'the keys T, U and F are I employed to controlthe operation of the tens, units and fractions Low indicator units. In the I eventthat another price is not to be set up immediately, the. key C is operated to release the locked selection key and the selection relay to condition the alarm circuits for operation. Since the Market price of 1021/ does not equal clerk upon the Low indicators of the stock W is ac-I or exceed the High priceof 106 nor is equal to or lower Ithan the Low price of 99%, obviously no indication is given to the clerk of buy or sell orders to be executed at this time.

Referring now to Fig. 17, the setting of the hundreds indicator unit of the High price is the same as the settingof the corresponding indicator of the Market price and the hundreds pin 39 therefore will be in engagement with thespring depression 29 and the spring 24 is forced outwardly against spring 23 of the High hundredsindicator unit. 1 1

Since the tens digit 0 of the market price is the same as the High tens digit, the tens pin 39 is in engagement with the spring depression 29 and the springs 24 and 23, of the'High tens indicator unit arein electrical contact Witheach other. The units digit 2 of the market price is numerically less than the units digit 6 of the High, price and the units pin 39 therefore assumes the, position shown on Fig. 17 whereby springs -23 -and 24 do not close their respective,

contacts. ,The fraction digit I4 of the market price coincides with the fraction digit of the High priceand the springs 23 and 24 of the electrical contact with each other.

The alarmIcircuit for the operation of relay WHA willnow be described: Battery, winding of relay WHA, conductor I55, break contacts I56 of relayWH, conductor 151,, springs 24 and 23 of the High fractions indicator unit, springs 24 and 23 of the units, tensand hundredsHigh indicator, units respectively, break contact I58 of relay IW to ground. It will be noted that this circuit is effectiveonly when relays WH and W are unoperated and the spring 24 of each of the High indicator units is in electrical contact with its associated spring 23.. Since the units pin 39 has notforced the spring 24 of the High units indicator into engagement with its associated spring 23, .the alarm circuit isnot completed atthis point and no alarm will be I given. The circuit just described is effective only when the market price is the same as the price set up on the high indicator units and the relays WH and W are released.

25 High fractions indicator unit are therefore in I The operation of theI IHigh alarm when one digit of the Market price is higher than a corresponding digit of the High price and the digits of a higher order of the market price are the same respectively as those of the High price, will be best understood by reference to a specific example illustrating this condition. I I

Assume,by way of example, that the settings of the High indicators correspond to the price 106 and the market settings are 107 It will be noted that the hundreds digits of the High and Market prices are the same and the tens digits are likewise the same, but-the units digit setting of the market indicator is numerically greater by one than the corresponding setting of theunits High indicator, where as the fractions digit of the market price is lower thanthe fractions digit of the High price setting. As, in the example assumed, the hundreds and tens digits of the High price equal the hundreds and tens digits respectively of the market price, the springs I 23 and 24 ;of the hundreds and tens High indicator units will be in engagement with one another.I Since, however, the units digit I of the market price is numerically greater than the units digit 6 of the High price, the units pin 39 will be in engagement with the spring depression 3| and the springs 24 and 23 of the units High indicator will be incontact with one another and with the spring 22. Since the fractions digit I of the market price is numerically less than the fractions digit 4 of the High price, none of the springs 22, 23 or M of the High fractions indicator will be in engagement with one another.

The relay WHA will now be operated over the following circuit: Battery, :WHA, conductor 355, break contacts I56 of relay winding of relay WI-I, conductor lti'i, spring 22 and spring 23 of the High units indicator, springs 24 and 23 of the High tens, springs 23 and 23 of the high hundreds indicators, conductor I59, break contacts I58 of relay Wto ground. Y

I Relay WHA locks over its armature NH and contact thereof to ground at the switch contacts -I3'1. Relay WHA also moved itsarmature I62 against itscontact, thereby applying battery to the switch its and the Winding of the bell I32,

dicator and its associatedspring-fl, springs 43 therefore, will engage the spring depression I38,

thus operating thebell I 32 as an indication of :thiscondition to theclerk who may, if he so .desires,'disconnect the bell by opening the switch I63= or depressing the button I 36 to release the relay WHA after the High indicators have been :reset to a value higher than the market price.

-When the alarm circuit'was established to place ground on conductor I55, lamp I34 was lighted to indicate to the clerk the stock relating to the limit order which requires execution. The release of relay WHAatits armature IIiI removed ground from conductor I55 and extinguished the lamp I33 provided the High indicators had been set to a value numerically greater than theilMarket indicators. Referring to Fig. 16, it will be noted that the armatures I62 of all High alarmremaining in electrical contact with each other. 'The Low alarm relay WLA operates over the. following circuit: Battery, winding of relay WLA,

conductor le -l, spring '48 of the Low fractions inand 41 of the Low. units, tens and hundreds indicators respectively, conductor 165, break contacts I63 of. relay vWhconductor I59, break con.-

tacts' I58 of relay W to ground. i

Referring to Fig. 17,, it will, be noted thatthe hundreds digit 1.015 themarket priceis numerically greater by one than. the settingv of'the. hundredsjLow indicator andthe hundreds pin 39,

Fig; 9, thereby forcing the spring 41 out of -con tact with spring 43 and also out of contact with spring 49'. The grounded conductor I65 applies ground to spring dl' cf the hundreds Low-indicator unit, but since, as before stated, the hundreds-digit setting of the Market indicator isnumerically greater than the hundreds digit set up on the Low indicator, the spring 41 is not in engagement with spring it of this indicator and the alarm circuit is opened at this point. Since the setting ofthe Low tens indicator unit is one digit numerically less than the Market tensindicator unit setting-the alarm circuit is additionally open at spring 41 of the Low tens indicator unit. Since the units and fractions digits of the Low indicator units are eachhlgher than the" units and fractionslviarket indicator units respectively, the pin 39*will not be in engagement with either spring depression I61 or I68 of these units, and the springs 41, 48 and 49 of these units will be in contact with one another as shown on Fig. '8 of the drawings. i

- Assume'now'that the price set up on the Mar-,- ketindicators' is 99 which is the same as the price set upon the Low indicators, the hundreds digit being blank; Under these conditions the springs 41 and 4301 the Low indicators willall be in engagement with one another and disengaged from their springs 49. The alarm circuit will then be completed through the contacts 41 and 48 ofeach ofthe Low indicator units in series and the'relay WLA will operate and lock through its armature I63 and make contact to the grounded switch contacts I39. The lamp I35 will be lightedto indicate to the attendant the stock to which a buy order relates that requires execution.

The operationof relay WLA caused the bell I33 to ring over the following circuitz. Battery,

contact and armature I69 of relay WLA, switch I11, and ,bell I33 to "ground. The button I38, when depressed operates the switch contacts 1 I39 and releasesrelay' WLA, thereby extinguishing the-lamp I 35 and interrupting the circuit to the bell I33 which causes the bell to cease its operation provided the Low indicators have been reset to a number numerically less than the number displayed on the Market indicators. 1 The armature I69 of relay WLA is connected, to the corresponding armature of relay- GMLA and all other how alarm relays so that the operation of any Low alarm relay causes the bell I33 to ring with the switch 'I1I closed. The switch I1I is providedto disconnect the bell I33 whenever the clerk may so desire, as for example,

when several Low alarm relays are operated at the same time as may occur during a sustained downward movement of the market. The switch I83 is employed to render the operating circuit for the bell I32 ineffective. The lamps I33 and I34 are distinctive in color or provided with different colored lamp caps, as for example, the

High lamps I34 may emit a red light and the Low lamps I35 may give a green indication when lighted. The clerk is thus enabled to determine ill at a glance whether the orderjfor'a stockto be executed is a buy order, a sell order or whether both buy and sell orders for the stock are awaiting execution. I

A modified form of comparing unit is shown in Figs; 12, 13, and 14 wherein the High indicator of Fig. 1 has been replaced by a manually settable knob I12 having attached thereto a pointer I13. This pointer enables the shaft I14 to be set in any of the positions I to 0 and blank, as for example, the position 4 shown on Fig. 1-2. Mounted on the shaft I14'is a spring assembly I15 which issimilar to the assembly ofsprings 22, 23 and 24 of Fig. 6, except that the insulating washer 3.0 is replaced by a metalwasher.

Thisarrangement causes the spring 22 to be in continuous electrical circuit with the screw 26, the arm 25 and the shaft from whence the circuit i s continued through the bearing I18, Fig. 14, the terminal washer I19 and associated conductor I to one of the slipconnection terlminals I81. The use of the shaft I14 in the circuit of one of the springs of the assembly I15 provides a cheaper construction than the arrangement. of Fig. 10 by eliminatingfone of the'slip rings and wiper brushes of Fig; 10. The manner 01'- connecting the remaining springs of I 1 I I 2,191,234 9 the assembly I to theslip rings and brushes isushown on Fig. 10. I

The bearing I18 is held clamped by the nut I82 to the plate I83 which is secured to the unit by the screws, I84. I The plate I83 may be of ltfiwmaintainsthe shaft I14 in any of its set The collar I86 provided with a,

suitable insulating material and the shaft is thus insulated from the frame of the unit by the plate or by any other suitable means. I

spring washer 185 interposed between the lower portion of the bearing I18 and the collar positions. screw I81 fori clamping the collar securely to the shaft and against the spring washer I85. I

The shaft 115 supportsand carries with it the pin I11 which is similar to the pin 39 shown on Fig. 1 and operatesjina manner similar to I Ithe operation-of the pin 39 during the restoraftion of the Market indicator to the blank position. The comparing unit is provided with slip connection terminals ISI whichengage suitable I complementary slip connections whereby the unit may be I readily removed from the framework within which the units are normally mounted adpjacent to one! another in a horizontal row to display the price set up :on the indicators con trolling the operation of the shaft I16, and also the price indicated by the pointers I13 of the units corresponding to the digits of the price. The indicators employed with this comparator unit for controlling the operation of the pin I11 may be the Market "indicator shown on Fig. l,

which is operated by electrical impulses from a transmitter ata distance The Market indicator is selectable by a relay such asthe relay W of Fig. 17 wherein a selecting relay is shown individual toeach stock orI'item to be selected.

, The circuit through the contacts of the spring I I assembly Il15 is indicatedon Fig. 17 for the Isosprings 22, 23 and 2 lof the High indicators.

The operation of this comparing unit Will best beunderstood with reference '}to a specific example. Assume that lithe attendant has set the pointers I13 of 'the hun'dreds, tens, units and fractions comparing units to the positions I, 0, 6 and 4 respectively corresponding to thenumber jIl06 and that the shafts 116 of thehundreds, tens, units and fractionsindicators are set to display the price 102 on'their respective indicators. The alarm circuit corresponding to the settings of the pointers and indicators in the assumed example is as shownon Figs. 16 and 17 for the High indicators and no alarm indication will be given at this time. -If, however, the market indicators should be given a setting numerically equal to or higher than the settings I of the pointers,an jalarm will be given in a manner similar to that previously described in connection with the High indicators of Fig. 17

when the same relation exists between the two' numbers representing the High and Market prices to becompared.

, alarm is shown on Figs. 16 and 1'1I for indicat executed. The indicatorsof thejcomparing units of Figs. 14 and 15 may be operated in parallel or in any other suitable manner whereby the market price I set up on the drums of these indicator units is the same as the price last transmittedby the operator at the transmitting station T for the item.

It will be understood thatthere may be two sets of comparator units for each of the numbers to be compared, one set of which employs I the springs 41, I I48 and 49 used with the device of Fig. 15 and the other, the springs 22, 23 and 24' used with the device of Fig. i l, the first of said sets giving a signal in'the manner of the low indicators and the Isecond giving a signal inthe I manner'of the High indicators of Fig. 17.

.ing to the clerk when a buy order is to be Whilethe invention has been described in detail I with respect to a certain preferred example thereof which gives satisfactory results, it will be understoodby those skilled in the art after understanding the invention, that various changes and I modifications may be made Without departing from the spirit and scope of the invention and it is intended, therefora in the appended'olaims to,

cover all such changes and modifications.

I What is claimed as new and desired to be secured by Letters Patent is: I

1. In a numerical comparator,

a plurality of settable circuit controllingcontact means representative of a firstnumber, one individual to each of a plurality of items, a set of indicia bearing devices for operating said ccntact' neans, a set of settable pins operable to engage said contact means, a second set of indicia bearing devices for operating said pins to settings representative of a second number, the saidindicia bearing devices of both sets. having a home position and a plurality of moved positions, means for operating said indicia bearing devices to their home positions and moved positions, meanscontrolled at will for operating said pins during the movement of the indicia devices to their home positionswhereby said pins are disengaged from said contact means, additional means for causing said pins to engage said contact means as the indicia bearing devices 1 are moved to their settings representative of a predetermined value, and'means including said contact means for indicating the numerical relation of the numbers represented by said contact means and said pins respectively.

2. In a numerical comparator, a set of rotat- I the digits of a number representative of a predetermined price of a stock or other item, said I able spring assemblies settable in accordance with f spring assemblies each comprising a first pair of I contacts and a second pair of contacts, a plurality of rotatable pinssettable in positions representative of a second number corresponding to an instant price of the item and adapted to close the first pair of contacts of the spring assemblies when the digits of the predetermined price are the same as the corresponding digits of the instant price and adapted to close both pairs of contacts of one of the spring; assemblies when any digit of the predetermined price is less than the corresponding digitof the instant price, and means controlled by said contacts to indicate when the I instant price is numerically equal to or greater than the predetermined price.

3. A quotation system for a plurality of items,

comprising a plurality of associated means each individual to one of said items and selectively operable in accordance with a predetermined value of the item, means common to said associated means and responsive to item selection meansoperable in accordance with a'second value of the item, said means comprising a set oi": rotateach of the said spring assemblies anddisengage signals for selecting any of said devices for operation, said means comprising a plurality of rotatable shafts having cam elements mounted thereon, means for setting said shafts in accordance with the current value of the item, a plurality of circuit controlling spring assemblies settable in accordance with the high and'low values of the item and adapted to be engaged by said cam elements when the current price settings of the cam elements is the same as the settingsof the spring assemblies for the high and lowvalues; and

able pins adapted to engage one contact spring of it from its companion contact when the settings of the spring assemblies are the same as the. settings of the pins, an indicating device individual to each item, a second indicating, device common to a plurality of items, and circuit connections 'controlledby the other contacts of the spring assemblies for operating the said first and second indicating devices when the settings of the pins are the same as the settings'of the corresponding spring assemblies. 1 l 5. .A systemior automatically comparing the instant prices of stocks or other items, which fluctuate in value, withjpredetermined prices of the items, comprising a receiver having a plurality of storage means each individual to one of said stocks or other items, means including a first transmitter operable at a distance from said receiver for selecting the storage means corrsponding to any desired item and for actuating the selected storage means to a setting in accordance with the-instant price of the item, saidreceiver also including other storage means each individual to one of said stocks or other items for storing a predetermined price of said item, means including a second transmitter operable at, a distance for selecting any of said other storage means correspondingto the desired item and for operating the last named storagemeans to a setting corresponding to a predetermined price of the selected item, means controlled'jointly by] the first named storage means and said other storage means for comparing the predetermined price withtheinstant price of the selected itemyand signal means for indicating the numerical, relation of the prices thus compared.

'6. A system for automatically comparing the instant prices of stocks or other items, which fluctuate invalue, with predetermined prices of said stocks or other item'sysaid "storage means including rotatable pins which movet'o different the items, comprising a receiver having a plurality of storage means each individual to one of positions in accordance with the settings of the storagefimeans, means including a first transmitter operable at a distance from said receiver for selecting the storage means corresponding to any desired item and'for actuating the selected storage means and said pins to settings in accordance with the instant price of the item, said receiver also including other storage meanseach individual to one of said stocks or other items for storing predetermined high and low prices of said 7 item, said other storage means including rotatable ,rneinbers which moveto different positions in accordance with the settings of said other storage means, means including a second transmitter operable at a distance forvjselecting any of said other storage mean'scorresponding to the desired item and for operating the lastgnamed storage.

meansand rotatable members to settings corre sponding to predetermined high and low pricesof.

the selected item, means controlled jointly by said rotatable pins and, rotatable members for .com-

paring the predetermined prices with the instant 1 price of the selected item, and signal means for indicating the numerical relation of. the prices thuscompared;

. RAYMOND HICKS. j 

